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Typically 65%LTV one of the main reasons is that when they go to re-finance to conventional we don't want them to be over leveraged, and the other reason why is if they default we need to have some skin in the game.

This loan would be for the owner of this website. I have all the hard money sources but I know little about the conforming side of things. Come on guys, who knows about conforming apartment financing? Hook me up!

my reccomendation for a purchase is to go to your local bank - chase right now is giving the best rates 3.5-4% they will go up to 75% subject to meeting their DSCR and other criteria. If you don't qualify their or they can only lend you less than you want your second option is Silver Hill Funding (shameless plug). we go up to 75% LTV as well but with looser guidelines than the banks and secondary and tertiary markets at the cost of 6-8% rate. Please reserve the hard money for a fix and flip situation only. Most banks require property stabilization anyways so don't you can buy, rehad, and then refi the property at the new value right away.